NEW DELHI: DLF chairman Rajiv Singh’s daughters Savitri Devi Singh and Anushka Singh have been appointed on the company’s board.
DLF is country’s the largest listed real estate company with market capitalisation of Rs 77,000 crore.
DLF’s net profit declined by over 30% to Rs 913 crore against Rs 1,317 crore in 2019-20.
However, demand in the residential business witnessed a strong comeback.
New sales bookings for 2020-21 stood at Rs 3,084 crore, reflecting a 24% growth over in 2019-20.
The company, in a filing on Friday, said the board of directors, “on the recommendation of the nomination and remuneration committee of the company has co-opted Savitri Devi Singh and Anushka Singh as additional directors of the company with immediate effect, subject to the approval of the shareholders.” Both the daughters have been appointed as non-executive and non-independent directors.
Rajiv Singh took over as the chairman of DLF when his father and company’s founder Kushal Pal Singh retired in June 2020.
Savitri Devi Singh and Anushka Singh have Bachelor of Science in Economics degree from the Wharton School at the University of Pennsylvania, with specialisation in real estate and management.
On Friday, the board of directors also elevated its whole time directors Ashok Kumar Tyagi and Devinder Singh, as the CEOs of the company with immediate effect.